0 sats \ 4 replies \ @cryptocoin OP 14 Apr 2022 \ parent \ on: Wikipedia community votes to stop accepting cryptocurrency donations | Ars Technica bitcoin
There was one positive to this:
@web3isgreat, which points out De-Fi hacks, will be a great follow!
The author of this Ars Technica post was an early bitcoin hater, but then he reformed, kind of.
Here's one of his earliest posts on Bitcoin (if not his earliest). Good times.
Illicit uses aside, the demand for Bitcoins seems to be driven by a combination of speculation and ideological enthusiasm. And we have a word for an asset whose value is driven by irrational exuberance: a bubble. I predict this one will pop once the novelty wears off.
The Bitcoin Bubble
http://timothyblee.com/2011/04/18/the-bitcoin-bubble/
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The "bubble" he was referring to was when the bitcoin price jumped 5X in a matter of months and the BTC/USD had reached the melt-your-face level of something like $1.20 or such.
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Months ago there was a post on SN regarding Requests for comment:
Requests for comment - Wikipedia considers to stop accepting cryptocurrency donations
#7732
https://meta.wikimedia.org/wiki/Requests_for_comment/Stop_accepting_cryptocurrency_donations
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Really interesting to read the discussion here. There’s some solid and cogent push back from informed Bitcoiners. But ultimately, it seems that people voted based on their prior beliefs.
If you scroll through the actual votes, almost every vote in favour of ending Bitcoin support cites the environmental concern. So, still the biggest FUD then.
I really value Wikipedia, and have donated monthly to them for years (via recurring debit card payment). Just cancelled that, and did a full year donation via their Bitpay. Will continue to value Wikipedia but will have to stop donating once they actually remove Bitcoin support.
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